Mathematical Theory of Risk - ACST861
This unit explores the use of statistical models in insurance: statistical models of the claim frequency and of claim size are studied. These models are a basis for the study of risk theory, ruin theory and reinsurance. Credibility theory is studied as a form of experience rating. Decision theory and simulation are also studied. Students gaining a grade of credit or higher in this unit and ACST862 General Insurance Pricing and Reserving may apply for exemption from subject CT6 of the professional exams of the Institute of Actuaries of Australia.
| Credit Points: | 4 |
| When Offered: | S1 Day - Session 1, North Ryde, Day |
| Staff Contact(s): | Actuarial staff |
| Prerequisites: |
(ACST601 and ACST604) or (STAT680 and STAT683) or (admission to MActPrac post 2014) |
| Corequisites: | |
| NCCW(s): | ACST885 |
| Unit Designation(s): | |
| Assessed As: | Graded |
| Offered By: | Department of Actuarial Studies and Business Analytics Faculty of Business and Economics |
Course structures, including unit offerings, are subject to change.
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